National Fuel Gas (NYSE:NFG) Upgraded by StockNews.com to “Hold”

National Fuel Gas (NYSE:NFG) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Other analysts have also issued research reports about the company. Scotiabank boosted their price target on National Fuel Gas from $80.00 to $81.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lowered their target price on shares of National Fuel Gas from $64.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th.

National Fuel Gas Stock Performance

NFG stock traded up $0.49 during midday trading on Friday, hitting $60.35. The stock had a trading volume of 267,261 shares, compared to its average volume of 531,656. National Fuel Gas has a 52 week low of $45.32 and a 52 week high of $61.56. The company has a current ratio of 0.77, a quick ratio of 0.65 and a debt-to-equity ratio of 0.85. The stock has a 50-day simple moving average of $59.63 and a 200 day simple moving average of $56.77. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 17.49 and a beta of 0.62.

National Fuel Gas (NYSE:NFG) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. National Fuel Gas had a net margin of 16.42% and a return on equity of 14.80%. The business had revenue of $417.40 million for the quarter, compared to analysts’ expectations of $540.62 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that National Fuel Gas will post 5.05 earnings per share for the current year.

Insider Transactions at National Fuel Gas

In other National Fuel Gas news, General Counsel Michael W. Reville sold 1,700 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $60.77, for a total value of $103,309.00. Following the completion of the transaction, the general counsel now directly owns 8,203 shares of the company’s stock, valued at approximately $498,496.31. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On National Fuel Gas

Several large investors have recently made changes to their positions in NFG. Victory Capital Management Inc. lifted its position in National Fuel Gas by 46.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,732,969 shares of the oil and gas producer’s stock valued at $93,910,000 after purchasing an additional 550,153 shares during the period. AQR Capital Management LLC lifted its holdings in National Fuel Gas by 159.5% in the second quarter. AQR Capital Management LLC now owns 880,434 shares of the oil and gas producer’s stock valued at $47,711,000 after buying an additional 541,176 shares during the period. Equity Investment Corp boosted its stake in National Fuel Gas by 27.7% in the first quarter. Equity Investment Corp now owns 1,242,186 shares of the oil and gas producer’s stock valued at $66,730,000 after acquiring an additional 269,441 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in National Fuel Gas by 194.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 378,588 shares of the oil and gas producer’s stock worth $20,516,000 after acquiring an additional 249,967 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of National Fuel Gas by 262.5% during the 2nd quarter. Mackenzie Financial Corp now owns 318,078 shares of the oil and gas producer’s stock valued at $17,237,000 after acquiring an additional 230,332 shares during the last quarter. Institutional investors and hedge funds own 73.96% of the company’s stock.

National Fuel Gas Company Profile

National Fuel Gas Company operates as a diversified energy company. It operates through four segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. The Exploration and Production segment explores for, develops, and produces natural gas and oil. The Pipeline and Storage segment provides interstate natural gas transportation services through an integrated gas pipeline system in Pennsylvania and New York; and owns and operates underground natural gas storage fields.